The Ultimate Gold Scalping 5 Min - Scalping Strategy For Quick and Easy Profits

Summary

This video introduces a five-minute gold trading scalping strategy applicable to various platforms like MT4, MT5, and TradingView. It requires two indicators on TradingView: MA Ribbon for buy/sell signals and RSI for trend confirmation. The strategy involves placing orders when EMA 8 crosses EMA 14 and RSI is above 55 for buys or below 45 for sells. Trades should be confirmed with bullish/bearish candlesticks and managed with a 1:1.5 risk-reward ratio.

Takeaways

• 📈 The video discusses a 5-minute gold trading scalping strategy applicable to various trading platforms like MT4, MT5, and TradingView.
• 🏆 The strategy has shown promising results with 19 wins and 6 losses out of 25 trades during trials.
• 🛠️ For MT4 and MT5, three indicators are needed, but only two are required for TradingView, making it free to use.
• 🌐 The strategy is versatile and can be applied to other assets like Forex and cryptocurrencies.
• 📊 The first indicator used is the MA Ribbon, with specific settings for EMA lengths 8 and 14, used for buy/sell signals and trend guidance.
• 🔍 The second indicator is the RSI, set to default with upper and lower bands at 55 and 45, used to confirm the trend direction.
• 📌 A buy signal is given when EMA 8 crosses above EMA 14, and the RSI is above 55, with a bullish candlestick confirmation.
• 📉 A sell signal occurs when EMA 8 crosses below EMA 14, and the RSI is below 45, with a bearish candlestick confirmation.
• 🚫 Avoid trading when the RSI is at a transitional level (between 45 and 55) as it indicates market indecision.
• 💼 Emphasizes the importance of money management and trading psychology, acknowledging no strategy is flawless.
• ⏰ The strategy is specifically designed for 5-minute scalping, focusing on short-term trades.

Q & A

What is the primary focus of the discussed trading strategy in the video?

The primary focus of the discussed trading strategy is a five-minute gold trading scalping strategy applicable to XAU/USD, which can also be used for other assets like Forex and cryptocurrencies.

What is the performance of the scalping strategy as mentioned in the video?

The scalping strategy has shown promising results with 19 wins and 6 losses out of 25 trades executed during trials.

Which trading platforms can this strategy be applied to?

The strategy can be applied to various trading platforms including MetaTrader 4 (MT4), MetaTrader 5 (MT5), TradingView, and other trading applications.

How many indicators are needed for this strategy on MT4 and MT5 platforms?

Three indicators are needed to use this strategy on MT4 and MT5 platforms.

How many indicators are required when using TradingView?

Only two indicators are required to use this strategy on the TradingView platform.

What are the two indicators used in the TradingView example in the video?

The two indicators used in the TradingView example are the MA Ribbon (with EMA settings) and the Relative Strength Index (RSI).

What do the EMA indicators represent in this strategy?

The EMA indicators serve as guides for placing buy and sell orders and also act as trend guides.

What is the significance of the EMA 8 crossing above EMA 14 in the strategy?

When EMA 8 crosses above EMA 14, it is a buy signal in the strategy.

How is the RSI used to confirm signals in this strategy?

The RSI is used to confirm signals by indicating bullish or bearish trends based on the signal line's position relative to the 55 and 45 levels.

What are the steps to place a buy order according to the strategy?

The steps to place a buy order include: waiting for EMA 8 to cross above EMA 14, ensuring the RSI signal line is above 55, confirming a bullish candlestick, and setting a stop loss at the latest swing low with a target take profit ratio of 1:1.5.

What are the steps to place a sell order according to the strategy?

The steps to place a sell order include: waiting for EMA 8 to cross below EMA 14, ensuring the RSI signal line is below 45, confirming a bearish candlestick, and setting a stop loss at the latest swing high with a target take profit ratio of 1:1.5.

What is the importance of money management and trading psychology in this strategy?

Money management and trading psychology are important because no strategy is perfect, and maintaining discipline in trading can help manage risks and emotions.

Outlines

00:00

📈 Gold Trading Scalping Strategy Introduction

This paragraph introduces a five-minute gold trading scalping strategy applicable to various trading platforms like MetaTrader 4/5 and TradingView. It's suitable for trading gold and other assets like Forex and cryptocurrencies. The strategy has shown promising results with 19 wins and 6 losses out of 25 trades. For MT4/MT5, three indicators are needed, but only two are required for TradingView, making it free to use. The example focuses on applying this strategy on TradingView by setting up two EMA indicators and adjusting their parameters. The EMA indicators serve as guides for placing buy and sell orders and as trend guides.

05:01

📊 Implementing the Scalping Strategy on TradingView

The paragraph details the process of implementing the scalping strategy on TradingView. It explains how to adjust the EMA indicators by deactivating the third and changing the first and second to EMA with lengths of 8 and 14 respectively. The RSI indicator is added to confirm signals, with settings adjusted to remove all marks except for the RSI bands. The RSI is used to confirm the trend, with levels of 55 indicating bullish and 45 bearish trends. The steps for placing buy orders are outlined, including conditions for EMA and RSI signals, confirmation of bullish candlesticks, and setting stop loss and take profit based on a 1:1.5 risk-reward ratio.

📉 Steps for Placing Sell Orders and Strategy Conclusion

This paragraph outlines the steps for placing sell orders using the scalping strategy. It mirrors the process for buy orders but with conditions for bearish signals and RSI levels below 45. The paragraph also reiterates the steps for placing buy orders with a focus on EMA and RSI signals, and the importance of confirming bullish candlesticks. The strategy concludes with a reminder to maintain proper money management and trading psychology, acknowledging that no strategy is flawless. The video ends with a teaser for the next video.

Keywords

💡Scalping

Scalping refers to a trading strategy where traders aim to profit from small price changes in a short time frame, typically within minutes. In the context of the video, scalping is applied to gold trading with a five-minute strategy, which is a quick and frequent trading approach. The video mentions that this strategy has been tested with promising results, achieving 19 wins and six losses out of 25 trades.

💡XAUUSD

XAUUSD is the currency pair for gold priced in US dollars. It represents how many US dollars are needed to buy one ounce of gold. The video discusses a scalping strategy that can be applied to trading this pair, highlighting its relevance in the gold trading market.

💡MetaTrader 4 (MT4) and MetaTrader 5 (MT5)

MT4 and MT5 are popular trading platforms used by traders worldwide. They offer advanced technical analysis tools and the ability to trade various financial instruments. The video mentions that the scalping strategy can be applied across various trading platforms, including MT4 and MT5.

💡TradingView

TradingView is a social network for traders and investors that provides advanced charts and a wide array of technical indicators. The video script describes using the TradingView platform to implement the scalping strategy, suggesting it as a free alternative to MT4 and MT5.

💡EMA (Exponential Moving Average)

EMA is a type of moving average that places a greater weight and significance on the most recent data points. It is used to analyze price trends and is one of the indicators required for the scalping strategy discussed in the video. The script explains how to set up EMA indicators on TradingView and how they serve as guides for placing buy and sell orders.

💡RSI (Relative Strength Index)

RSI is a momentum oscillator that measures the speed and change of price movements. It is used to identify overbought or oversold conditions in the trading asset. In the video, RSI is used to confirm the buy and sell signals generated by the EMA crossovers.

💡Candlestick

A candlestick is a style of financial chart used to depict price movements of a security, derivative, or currency. Each 'candle' represents a specific time period and displays the open, high, low, and closing prices. The video script mentions confirming the formation of bullish or bearish candlesticks as part of the trading strategy.

💡Buy Signal

A buy signal is an event or condition that suggests it might be a good time to purchase a security. In the video, a buy signal is generated when the EMA 8 crosses above EMA 14, and the RSI is above 55, indicating a bullish trend.

💡Sell Signal

A sell signal is an event or condition that suggests it might be a good time to sell a security. The video describes a sell signal as occurring when the EMA 8 crosses below EMA 14, and the RSI is below 45, indicating a bearish trend.

💡Stop Loss

A stop loss is an order placed with a broker to sell a security when it reaches a certain price. It is a tool used to limit an investor's loss on a position. The video script advises setting a stop loss at the latest swing low for buy orders and at the latest swing high for sell orders.

💡Risk-Reward Ratio

The risk-reward ratio is a concept used to evaluate the potential return on an investment compared to its potential risk. The video suggests using a risk-reward ratio of 1:1.5, meaning for every unit of risk, the trader aims for 1.5 units of reward.

Highlights

Discussing a five-minute gold trading scalping strategy for XAU/USD

Strategy can be applied across various trading platforms including MT4, MT5, and TradingView

Suitable for trading gold and other assets like Forex and cryptocurrencies

25 trades conducted with the strategy resulted in 19 wins and 6 losses

Requires three indicators on MT4/MT5 and two on TradingView

Can be used for free on TradingView

MA Ribbon indicator settings for EMA with lengths of 8 and 14

EMA 8 crossing above EMA 14 signals a buy, and below signals a sell

RSI indicator used to confirm signals with upper and lower bands set at 55 and 45

RSI signal line above 55 indicates bullish trend, below 45 indicates bearish

Avoid placing orders when RSI is at transitional levels (45-55)

Steps to place a buy order include EMA and RSI conditions, and confirming bullish candlesticks

Steps to place a sell order include EMA and RSI conditions, and confirming bearish candlesticks

Setting stop loss at the latest swing low for buy orders and high for sell orders

Using a risk-reward ratio of 1:1.5 for placing orders

Maintaining money management and trading psychology is crucial

No trading strategy is 100% perfect

Transcripts

in this video we'll be discussing a

five-minute gold trading scalping

strategy or scalping

xauusd this trading strategy can be

applied across various trading platforms

including metatrader 4 or mt4 metatrader

5 or mt5 trading View and other trading

applications besides being suitable for

trading the gold pair this 5 minute

scalping strategy is also applicable to

other assets such as Forex

cryptocurrencies and more so make sure

you don't miss out on this video and

don't forget to support us by liking and

subscribing to this

channel previously we have also utilized

this 5minute scalping strategy on the

gold pair and during the trials we

conducted this scalping strategy has

shown promising results out of 25 trades

executed with this scalping strategy we

achieved 19 wins and six losses here are

the results of the back testing We

[Music]

performed if you implement this trading

strategy on the mt4 and mt5 platforms

you will need three indicators to use it

however if you're using the trading View

application you will only need two

indicators this means you can utilize

this trading strategy for free in this

example we will attempt to use this

trading strategy on the trading View

application

to use it open your trading view

platform then go to the search indicator

Tab and type ma

ribbon next select the default ma ribbon

from Trading view now access the ma

ribbon indicator settings in the input

tab deactivate ma number three in MA

number four then for ma number one

change it to Emma or exponential moving

average and set the length to eight

repeat the same steps for ma number two

changing it to Ema with a length of

14 adjust the colors according to your

preference once done click okay to

confirm the

changes these two exponential moving

averages will serve as guides for

placing buy and sell orders in the

market additionally these EMA indicators

will act as Trend

guides when the EMA 8 crosses above ema1

14 it's a by signal conversely when EMA

8 crosses below ema1 14 it's a cell

signal now let's add the second

indicator that will be used to confirm

the signals go to the search indicator

Tab and type RSI or relative strength

index then select the default RSI from

Trading

view access the RSI indicator settings

in the input tab leave it at the default

settings then go to the the style tab

remove all marks except for RSI RSI

upper band and RSI lower

[Music]

band customize the RSI color according

to your

preference next set the number for the

RSI upper band to 55 and the number for

the RSI lower band to 45

once done click okay to confirm the

changes the RSI or relative strength

index indicator will be used to confirm

the signals if the RSI signal line is

above the level of 55 it indicates a

bullish Trend and if the RSI signal line

is below the level of 45 it indicates a

bearish trend meanwhile if the RSI

signal line is between the levels of 45

and 55 it indicates a transitional trend

if the RSI signal line is at a

transitional level refrain from placing

any orders in the market now let's

discuss how to place buy and sell orders

in the market here are the steps to

place a buy order one when EMA 8 crosses

above ema4 it's a byy signal and you

prepare to place a by order two then

when the by signal appears ensure that

the RSI signal line is above the level

of 55 three if the bu signal appears and

the RSI signal line is below the level

of 55 or at a transitional level cancel

the setup for next confirm that the

formed Candlestick is a bullish

Candlestick five if all conditions are

met you can place a by order after the

bullish Candlestick is

[Music]

closed six set the stop loss at the

latest swing low seven use a Target take

profit based on a risk reward ratio of 1

to 1.5

[Music]

and here are the steps to place a cell

order one when EMA 8 crosses below ema1

14 it's a cell signal and you prepare to

place a cell order two then when the

cell signal appears ensure that the RSI

signal line is below the level of 45

three if the cell signal appears and the

RSI signal line is above the level of 45

or at a transitional level cancel the

setup for next confirm that the formed

Candlestick is a bearish Candlestick

five if all conditions are met you can

place a sell order after the bearish

Candlestick is

closed six set the stop-loss at the

latest swing High 7 use a Target take

profit based on a risk and reward ratio

of 1 to 1.5

[Music]

here are the steps to place a by order

one when EMA 8 crosses above ema1 14

it's a by signal and you prepare to

place a by order 2 then when the B

signal appears ensure that the RSI

signal line is above the level of 50 5

three if the Bice signal appears and the

RSI signal line is below the level of 55

or at a transitional level cancel the

setup four next confirm that the formed

Candlestick is a bullish Candlestick

five if all conditions are met you can

place a byy order after the bullish

Candlestick is

[Music]

closed six set the stop loss at the

latest swing low seven

use a Target take profit based on a risk

and reward ratio of 1 to

[Music]

1.5 always maintain your money

management and trading psychology as no

strategy is 100% perfect that concludes

this video and see you in the next one